SRU Steels Limited fixes Aug 31, 2024 as record date for 4:1 rights issue

The Board of Directors of SRU Steels Limited at its meeting duly convened and held at the registered office of the Company on Tuesday, August 27,2024 at 03:00 P.M. and concluded at 3:40 P.M. The Board of Directors have considered and approved the following terms of the Rights Issue.

Type of securities proposed to be issued - Fully paid-up Equity Shares ("Rights Equity Shares")

Total number of securities proposed to be issued - 4,79,51,400 Equity Shares with a face value of Re. 10.00 Each ("Rights Equity Shares") aggregation amount of Rs. 47,95,14,000/- of our Company for Cash at a price of Rs. 10 each per rights equity shares ("Rights Issue")

Issue Price - Rs. 10/- per Equity Shares

Record Date - Saturday, August 31,2024 for the purpose of determining the shareholders entitled for Rights Issue ("Eligible Equity Shareholders")

Right Issue Opening Date - Monday September 09, 2024

*Last Date for on Market Renunciation of Rights Entitlement - Wednesday September 18, 2024

**Right Issue Closing Date - Tuesday, September 24, 2024

Right entitlement Ratio - 4 (Four) Equity Shares for every 1 (One) Equity Shares held by the Eligible Equity Shareholders of the Company as on the record date with the right to renounce.

Outstanding Equity Shares prior to the Rights Issue - 1,19,87,850 Equity shares of Rs. 10/- each

Outstanding Equity Shares post Right Issue (assuming full subscription) - 5,99,39,250 Equity shares of Rs. 10/- each

Shares of SRU Steels Ltd was last trading in BSE at Rs. 9.74 as compared to the previous close of Rs. 9.77. The total number of shares traded during the day was 40032 in over 302 trades.

The stock hit an intraday high of Rs. 9.95 and intraday low of 9.55. The net turnover during the day was Rs. 390427.00.

Source : Equity Bulls

Keywords

SRUSteels INE425C01017 FundRaising RightsIssue RecordDate